Has anyone heard of Bitcoin - Page 2 — Scope | Disability forum
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Has anyone heard of Bitcoin

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  • woodbine
    woodbine Community member Posts: 11,673 Disability Gamechanger
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    In the USA and other more switched on countries you can buy and sell bitcoin in what are effectively ATM's.
    There are literally hundreds of crypto currencies, I recently purchased a book on them from Amazon and other than knowing there are a couple of reliable platforms you can trade on i'm not that much wiser, certainly not enough to dip my toe in the water and invest.
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  • rubin16
    rubin16 Community member, Scope Member Posts: 581 Pioneering
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    woodbine said:
    In the USA and other more switched on countries you can buy and sell bitcoin in what are effectively ATM's.
    There are literally hundreds of crypto currencies, I recently purchased a book on them from Amazon and other than knowing there are a couple of reliable platforms you can trade on i'm not that much wiser, certainly not enough to dip my toe in the water and invest.

    I've used a bitcoin ATM in the UK once, they used to have them around, not sure if they still do. But you could buybitcoin for cash, or sell bitcoin for cash. I used to have quite abit of bitcoin when it first came out, and you used to be able to mine it through servers for more, but those days ended and nowadays I wouldn't suggest buying into any cryptocurrency or trading it as the money is hardly there anymore. and Bitcoin mining became harder/impossible due to massive companies having server farms that constantly mine bitcoin.

    The only real use for bitcoin is for ilegal activities and is like the goto currency for any scammer or for money laundering.
    I have Autism, ADHD, Schizophrenia, Gilberts Syndrome and Crohn's Disease and have knowledge in these areas.


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  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
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    @calcotti I get that I didn't explain properly Bitcoin is just where it all started 
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  • calcotti
    calcotti Community member Posts: 10,010 Disability Gamechanger
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    janer1967 said:
    @calcotti I get that I didn't explain properly Bitcoin is just where it all started 
    It's fine, I understand. I feel for your friend's son. It is shameful that people are prepared to exploit people in this way. Sadly the world seems always to have been thus - but the mechanisms change and today's technology makes larger scams easier.
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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  • AdamHarris
    AdamHarris Community member Posts: 1 Listener
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    It's really unfortunate that your friend's son fell victim to fraud through Bitcoin. It's important to be cautious about online transactions and not to give out personal information to strangers.It's great that the police are involved and that the perpetrators will be caught. It's important to remember that while Bitcoin and other cryptocurrencies can be used for legitimate transactions, they can also be used by scammers.If you're considering using Bitcoin, researching and being aware of the risks is always a good idea. Check out https://www.moonbitcoins.com/dashboard for more information on Bitcoin and other cryptocurrencies.
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  • katz23
    katz23 Community member Posts: 1,895 Pioneering
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    I know someone who was scammed by fraudsters using and video on web claiming to be Martin Lewis - They purchased bitcoins or thought they were and it was a scam.
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  • Cartini
    Cartini Community member Posts: 1,108 Pioneering
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    I`ve dabbled with Bitcoin and made a couple of £thousand.  I drew all the money out and then Bitcoin went through the ceiling.  I was gutted.  Last year I had a letter from the tax man saying I`d traded and if my profits were above £5K I needed to declare it.  I wasn`t so gutted then.
    Would I recommend dabbling? Only, and only, if you know what you are doing.
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